When co-living spaces and coworking spaces are discussed, it is usually in the context of them being a means by which travelers, particularly digital nomads, are cutting costs. Of course, that understanding is based on the assumption that digital nomads are budget travelers.

However, especially with online enterprises growing, many people are making a significant amount of money while they are on the move. It is also becoming possible that even people in traditional jobs can work while they are on the move.

While this category of online entrepreneurs can afford to stay in accommodations traditionally considered to befitting their class, there are compelling reasons why they may choose to stay in a co-living space.

Before looking at the benefits that a luxury traveler might get from staying in a co-living space, first, let us find out what that is actually.

What is a co-living space?

A co-living space is a home or a large building where digital nomads visiting a particular destination or city can converge and share the amenities. In some of the spaces, the digital nomads might even share sleeping quarters, including bunk beds.

In other co-living spaces, each digital nomad gets a private room where they sleep and work when they cannot put up with the interruption of the group in the home. However, they still share kitchens, dining, and living rooms with others.

In some co-living spaces, the digital nomads also share work facilities such as conference rooms, podcast recording studios, and office space.

With that out of the way, what advantages does a digital nomad get from a co-living space besides low price?

Benefits of co-living space

The first advantage any digital nomad, including those who can afford to stay in more affluent facilities, can get from staying in co-living and co-working spaces is a sense of community.

While you might not have met the people you end up staying with at a co-living space, your lives are similar, making it easy to build bonds and enjoy the time together, even if it is just for a few days.

Indeed, some co-living spaces are designed to encourage the residents to interact and build a community. Besides sharing facilities, that can include organizing events and activities and going out as a team.

Some online platforms facilitate digital nomads building communities even before they meet in person. One such platform is Nomad List, where users share data and information regarding different destinations around the world. With such platforms, digital nomads will likely increasingly form social groups that can harmonize travel plans, including staying in particular co-living spaces at the same time.

The other advantage one stands to get by staying in a co-living space are opportunities to network. As a digital nomad or entrepreneur, you are likely seeking job and collaboration opportunities. You may also seek specific talent and skills, which you can get among fellow digital nomads.

While you can network remotely with them, meeting in person gives you a better chance to understand who they are, allowing you to make more informed decisions regarding whether to work with them.

While early co-living spaces were mostly designed for digital nomads on a budget, the trend is changing. In many cities around the world, spaces with a keen interest in offering the best experience without price restrictions are being set.

Indeed, over time the concept of co-living will cease being a synonym for low budget and become one that refers to a unique way of travel that makes digital nomadism more productive and meaningful.